Japan Airlines (JAL) and its partners have announced plans for a major shift in the ownership of Jetstar Japan, the low-cost carrier operating out of Narita, signalling a strategic change designed to support the airline’s future expansion and sustainability goals. Under a non-binding memorandum of understanding signed on February 3, 2026, Qantas Group intends to divest its full shareholding in Jetstar Japan, with the Development Bank of Japan poised to step in as a new investor alongside existing stakeholders.
The carrier was established in 2012 as a joint venture with Japan Airlines and other partners and has flown tens of millions of passengers since its launch. The proposed transition would place the airline in a Japanese-led ownership structure, positioning it for its next phase of growth, while Qantas focuses its resources on core operations in Australia and across its broader network.
Crucially, the agreement stipulates that no changes to Jetstar Japan’s current shareholding or governance will take effect until all terms are finalised and regulatory approvals are obtained. This transition phase is expected to progress through mid-2026 and into 2027, with a new brand identity anticipated later in the rollout process.
“We are delighted to announce this new beginning for Jetstar Japan alongside DBJ and Tokyo Century. We also extend our deepest gratitude to Qantas for their 14-year partnership in establishing and developing the LCC market in Japan. By moving to this new structure, we will respond flexibly to market changes and maximise synergies with the JAL Group to achieve sustainable growth for JJP as a key LCC at the expanding Narita Airport.”
– Mitsuko Tottori, President & Group CEO of Japan Airlines.
“We’re incredibly proud of the pioneering role Jetstar Japan has played in the low-cost aviation sector in Japan and sincerely thank our Jetstar team members for their unwavering commitment to maintaining excellent safety, operational and service standards for millions of customers. We’re confident the new ownership structure will deliver greater value to customers, benefiting from the Development Bank of Japan’s domestic and international aviation knowledge and industry expertise as well as their strong, long-standing relationships with national and regional tourism bodies. We thank Japan Airlines for their strong partnership and look forward to continuing to work together during the transition and in oneworld.”
– Vanessa Hudson, CEO of Qantas Group.
“We’ve built an amazing airline over the last nearly 14 years, carrying more than 55 million customers, and we thank Qantas for their support. But as we look to the next chapter in Jetstar Japan’s history, I am pleased to work with the new ownership group to lead our LCC into the future. Our people are the heart of our airline, pioneering the low-cost aviation sector in Japan while maintaining excellent safety, operational and service standards, and I look forward to leading them into our next phase of growth to deliver even more value to our customers.”
– Masakazu Tanaka, CEO and Representative Director of Jetstar Japan.
Under the proposed future configuration, Tokyo Century Corporation will remain a shareholder, and Jetstar Japan will continue its independent operations while preserving its flight schedules and existing codeshare arrangements. The transition aims to create opportunities for geographic network growth, expanded service offerings and a refreshed brand identity aligned with the airline’s evolving market role.
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